Can I submit an application directly to Schinnerer?
As an underwriting manager, Schinnerer does not accept applications sent directly from potential policyholders. You should submit an application through your local insurance broker or agent. If you don't have a broker, you can find one in your area by selecting the Broker Locator in the left hand column, or call us at 301-961-9800 and we can assign a broker to you.
Which application do I fill out? Small firms? Premier? Large firms?
We calculate which program your firm falls into by its annual billings:
Small firms - under $500,000
Mid-size firms (Premier) - $500,000 to $20 million
Large firms - Over $20 million
My firm is providing construction management services. Do I fit into the A/E program?
We divide construction management services into two categories: at-risk and agency form. A/E firms who perform construction management services may fit into our Design Firm program. Your total billings will determine which program should receive the submission.
At-risk construction managers are not eligible for our Design Firm program, but may be eligible under our Contractor's Program. Not sure what the difference is between agency and at-risk construction management?
Firms who provide construction management services exclusively should apply for our Specialty Construction Consultants Program.
Can firms domiciled outside the U.S., Puerto Rico and the Virgin Islands purchase coverage? We cannot provide coverage to firms that are domiciled outside of the US, Puerto Rico, San Juan, and the Virgin Islands. However, our policyholders are covered for professional services that they perform anywhere in the world.
What factors are considered when determining my premium?
There are many factors that affect your final premium. The primary factors are the services your firm performs, its billings, claims experience and location. Unique exposures such as condominium projects, fast-track projects and design/build services will also impact your pricing.
Why did my premium increase this year?
There are several reasons that your premium may change. First, if something about your firm has changed, such as an increase in your billings, you may see an increase in premium. Second, your state may have approved a rate or program change since your last renewal.
Is the A/E program written with an admitted or a non-admitted carrier?
The A/E program is admitted in all 50 states, Puerto Rico and the Virgin Islands. The insurance policies are issued by Continental Casualty Company, or one of the CNA companies.
Is the policy a claims-made or an occurrence policy?
The policy is claims-made. Not sure what the differences are between a claims-made and an occurrence policy? Read, Explaining a Claims-Made Coverage Trigger, to learn more.
When can I increase the limits of a policy? How often? Policy limits can be increased at any time during the policy period. However, limits can be increased or decreased only two times within the policy term.
Can I add additional insureds to the policy, such as my client?
Additional insureds cannot be added to the professional liability policy. Because your clients are not usually performing professional services, they do not have the risk that the policy is designed to cover.
What payment plans are available?
Firms with an annual premium greater than $4,000 are eligible for our 40/30/30 payment plan. 40% of the premium will be due at inception. 30% will be due 90 days after inception. The final 30% will be due 180 days after inception. There is no additional charge for this payment option.
There is a 5% discount for firms that choose to pay the three-year premium in full at inception of the policy.
Do I need to have an endorsement added to the policy when a firm changes address?
No, an endorsement is not necessary to change the address of an insured firm. You will, however, receive a letter notifying you of the change in address for your records.